Home Depot sells franchise division
Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity, has announced the acquisition of Harris Research Inc. (HRI) from Home Depot.
Based in Logan, Utah, HRI is a leading franchisor of in-home consumer services in the United States and internationally. The company’s Chem-Dry brand is a provider of carpet and upholstery cleaning services with approximately 4,000 franchises worldwide. Chem-Dry will continue its lead generation program with Home Depot, according to the announcement.
HRI also offers the N-Hance wood cabinet and flooring renewal service through more than 200 franchises. N-Hance will continue to be featured as one of Home Depot’s renovations offerings at its retail locations in the United States and Canada, as well as directly to consumers.
Financing for the transaction is being provided by BMO Harris Bank N.A., BBVA, and Caltius. Baird is joined in the investment by Thrivent Financial for Lutherans. The financial terms of the agreement were not disclosed.
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Weyerhaeuser sustainability recognized by world index
Weyerhaeuser announced that it has been named to the Dow Jones Sustainability World Index, which tracks companies in terms of their economic, environmental and social performance.
Weyerhaeuser is one of only eight building materials companies to be included on the World Index. Weyerhaeuser also continues to be a member of the DJSI North America, as it has every year since its inception in 2005. The DJSI follows a best-in-class approach and includes sustainability leaders from each industry on a global and regional level. The annual review is based on an assessment of corporate economic, environmental and social performance, covering issues such as corporate governance, risk management, customer relationships, climate change strategy and labor practices.
"We are honored to receive this recognition for our work toward achieving our vision of delivering superior sustainable solutions to the world," said Dan Fulton, president and CEO. "Our strategy to achieve this vision includes all aspects of sustainability — being the first choice for customers and investors, caring for our employees and communities, and providing renewable resource solutions."
The Dow Jones Sustainability World Index is composed of the top 10% in terms of sustainability of the largest 2,500 companies in the Dow Jones Global Total Stock Market Index.
"Third-party recognition, such as the DJSI, helps affirm that we are effectively managing sustainability risks and opportunities to deliver long-term results to our stakeholders," Fulton said.
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FBI raids homes of Solyndra’s execs
Federal agents visited the homes of the CEO and two other top executives of solar panel-maker Solyndra Inc. to examine computer files and records, ABC News reported on Friday.
The Sept. 8 raids were conducted on the same day that the FBI and officers from the Energy Department Inspector General seized boxes of records from the company’s headquarters in Fremont, Calif.
Solyndra, one of the industry’s largest manufacturers of solar panels, suspended operations on Sept. 1, laid off 1,100 employees, and revealed plans to file for Chapter 11 bankruptcy protection. The company cited the weak global economy and competition from Chinese manufacturers.
The federal probe comes in the wake of a $535 million loan from the federal government earlier this year.
When a company has a product
When a company has a product that the market does not want to pay for, and the product will only sell under the raw material cost, it is time to get out of that business. If it were not for President Obama and his desire to make this technology happen, they would have been out of business long ago. This is what you get when you let government make decisions better left to the marketplace! It didn't work in the Soviet Union, and it doesn't work here!